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7 Most Expensive Canadian Cities for Car Insurance

All across Canada, drivers are required to have a minimum amount of auto insurance. Above and beyond this, drivers can add optional coverage, such as comprehensive and collision. British Columbia, Saskatchewan, and Manitoba are provinces with government-owned insurance companies. Quebec has a combination of government and private insurance. Everywhere else in Canada auto insurance is provided by private insurance companies.   Average Car Insurance Premiums in Canada You have fewer options when dealing with government-run, public car insurance companies. You can’t do much shopping around. You can buy basic insurance from the public insurer and then get additional coverage elsewhere,

Renting On Airbnb? What About Insurance?

You’ve probably heard of Airbnb. It’s a fairly new startup that has exploded in recent months. It basically connects renters that are looking for cheaper housing and those that have free space. It’s an alternative to hotels for travelers and has been very popular all around the world. There are few things that could go wrong in the early days as both renters and hosts loved the new service. Then Things Went Bad In July 2011, a host contacted Airbnb after having her apartment burglarized and vandalized by an Airbnb guest. The company initially said there was nothing it could

So Tired Of Those Credit Insurance Offers…

I’m sure all of you have received such offers at some point. You activate a new credit card and they offer you a credit insurance. How does it work? -You pay X%.. let’s say 1% of your end of month balance. It varies from policy to policy and sometimes you only pay if you don’t make the full payment on time, etc. It’s tempting for a few reasons: -they generally insist a fair bit in the hope that the easier way out will be for you to say yes -they will often offer it for free for a few months

Event Ticket Insurance… Gotta Be Kidding Me?

I had no idea that this even existed but I guess it’s not surprising. If you’ve ever purchased tennis tickets online, you know that the fees can be outrageous. In a few days, tickets for the US Open Tennis tournament will be put on sale. I will be waiting in a virtual line when they’ll be made available for purchase  and will be buying about 7 tickets for myself (several days) and others for my wife, friends and family. The ticket prices range from $65 to $110 (those I’m looking for). That amount is pre-fees though. On every single ticket,

Natural Disaster Coverage… Should You Get It?

I’m sure that all of you also felt incredibly saddened by the events that occurred in Oklahoma City. It’s so easy to forget that these things unfortunately do happen. There are so many different things to consider in such an event and the loss of life is obviously #1. Since this is an insurance blog, I’d also like to briefly talk about the more “material” aspects. Know Your Coverage In general, an insurance policy will protect you against specific types of damage and the default is that any cause is not covered. When there are exceptions to that (which there usually are),

Vision Insurance – Would You Ever Consider It?

I’ve read about hundreds of different insurance types but never about this specific one. Vision insurance? The idea is to: -Offset the costs of routine checkups as well as vision correction The idea behind it is certainly not bad and it’s true that getting corrective surgery is expensive. I Doubt I’d Get It Though I mean really, how much money could I possibly save? I try to buy insurance to protect myself against unlikely but very bad events. I’m not sure that having bad vision would qualify for either. What are the odds that I will one day be wearing

Charged Based On Behavior?

A few weeks ago, South Pacific airline Samoa announced it would start charging based on its passengers total weight (person’s weight+luggage weight). I don’t think anyone was shocked as the idea has been discussed for a long time. It makes a lot of sense in a way because weight is one of the major factors that determine the airline’s costs (in terms of fuel especially) so charging based on that does make some sense. Then, the other day I read about some car insurance companies that are starting to experiment with a device that tracks how you drive, your speed,

Updating Your Insurance Coverage..Are You Doing It?

It’s so easy to get caught up in this. It happens on every possible type of insurance but let’s take the example of my home insurance policy. I bought the policy a few years ago and had coverage worth $250,000. That was enough to cover anything that could happen really and there was no point in getting more than that. Things Do Change Though In the past few years, my house’s value has increased by 100K and I have also purchased many expensive items and some furniture. The basic problem is that if something did end up happening, there’s no

Insurance Shopping In The 21st Century.. I Like Where This Is Headed

As I’ve written about in the past, there are plenty of things I would like to see changed in the insurance market. Two important things are having: –a more uniform set of rules between states and provinces – this would make it much easier to bring in more competition between companies, for companies to operate in all 50 states and perhaps in all of Canada as well. I doubt we’ll ever get there but if get closer to it, it would be a huge positive –more transparency in rates: I think it’s reasonable to be able to search for insurance in similar

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